Funding you earn now, next payment 21:00 UTC−0.0532%/8h= −58.2% APRnext payment −$0.66 per $10,000 · paid last 24h +0.019%
Price spread now: Coinbase International against Deribit−0.207%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.003%$0 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and Coinbase International is 0.207% cheaper against Deribit than usual: you would sell low and buy high (−$21 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.003% in total (about 0.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.66 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit 1000PEPE_USDC-PERPETUAL | 0.000004823 | 0.0996 | pay 0.0124% / 1h | 0m 14s | $82K | $94K | 25x |
| Short | Coinbase International 1000PEPE-PERP-INTX | 0.000004813 | 0.0464 | get 0.0058% / 1h | 0m 14s | $576K | $25.1M | 50x |
Deribit 1000PEPE_USDC-PERPETUAL
Coinbase International 1000PEPE-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Deribit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$111.63
- Price spread: −0.207% → 0.000%
- −$20.73
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$149.37
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Deribit: no order-book sample; Coinbase International: live order book, 4 min ago. Net counts fees only.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Deribit no order-book sample | — | — | — | — | — |
| Sell Coinbase International live order book, 4 min ago | 4.15 bp | 9.8 bp −$10 | 15.6 bp −$156 | doesn't fit | doesn't fit |
Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
PEPE on 35 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| dYdX PEPE-USD | 0.0000% | 1h | 0.000004811 | −0.254% | $18K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0006% | 1h | 0.000004815 | −0.176% | $14K | — | 150x | as long as short |
| Hyperliquid kPEPE | +0.0100% | 1h | 0.000004824 | +0.021% | $59.0M | $73.5M | 10x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000004817 | −0.124% | $59K | $113K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000004818 | −0.093% | $87.6M | $276.0M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000004817 | −0.124% | $150.6M | $62.4M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000004822 | −0.025% | $25.0M | $53.4M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000004813 | −0.201% | $552K | $3.9M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000004829 | +0.127% | $27K | $343K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000004828 | +0.102% | $1K | $2.4M | 20x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Hyperliquid kPEPE
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
KuCoin PEPEUSDTM
Variational Omni 1000PEPE
edgeX 1000PEPEUSDC
SunX 1000PEPE-USDTShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX PEPE-USDT | +0.0100% | 8h | 0.000004814 | −0.193% | $552K | $3.4M | 75x | as long as short |
| Bitget PEPEUSDT | +0.0186% | 8h | 0.000004822 | −0.015% | $42.6M | $151.1M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000004825 | +0.036% | $7K | — | 15x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0196% | 8h | 0.000004820 | −0.062% | $41.5M | $487.1M | 50x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0214% / S −0.0087% | 1h | 0.000004000 | −17.064% | $54K | — | 100x | as long as short |
| BloFin PEPE-USDT | +0.0309% | 8h | 0.000004817 | −0.124% | $3.9M | $21.9M | 75x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0428% | 8h | 0.000004823 | +0.002% | $29K | $11K | 20x | as long as short |
| Coinbase International 1000PEPE-PERP-INTXshort | +0.0464% | 1h | 0.000004813 | −0.207% | $576K | $25.1M | 50x | |
| Phemex u1000PEPEUSDT | +0.0520% | 8h | 0.000004821 | −0.048% | $2.3M | $6.4M | 50x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0546% | 8h | 0.000004820 | −0.066% | $5K | $16 | 20x | as long as short |
| Injective PEPE/USDC PERP | +0.0555% | 1h | 0.000004823 | 0.000% | $4K | $110K | 12x | as long as short |
| Lighter 1000PEPE | +0.0728% | 1h | 0.000004821 | −0.041% | $572K | $5.3M | 10x | as long as short |
| Nado kPEPE-PERP | +0.0736% | 1h | 0.000004825 | +0.033% | $189K | $848K | 10x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0746% | 1h | 0.000004808 | −0.311% | $102K | $764K | 25x | as long as short |
| SoDEX 1000PEPE-USD | +0.0750% | 1h | 0.000004819 | −0.083% | $2K | $9K | 10x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.0760% | 1h | 0.000004819 | −0.073% | $3.9M | $13.1M | 50x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0762% | 1h | 0.000004819 | −0.091% | $93K | $624K | 15x | as long as short |
| BingX 1000PEPE-USDT | +0.0831% | 8h | 0.000004822 | −0.019% | — | $255.4M | — | as long as short |
| Extended 1000PEPE-USD | +0.0880% | 1h | 0.000004820 | −0.055% | $529K | $147K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0880% | 1h | 0.000004828 | +0.104% | $136K | — | 3x | as long as short |
| MEXC PEPE_USDT | +0.0881% | 8h | 0.000004825 | +0.041% | $91.5M | $292.9M | 300x | as long as short |
| Binance 1000PEPEUSDT | +0.0884% | 8h | 0.000004823 | −0.002% | $128.9M | $1.02B | 75x | as long as short |
| Aster 1000PEPEUSDT | +0.0908% | 8h | 0.000004821 | −0.039% | $1.5M | $6.9M | 50x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUALlong | +0.0996% | 1h | 0.000004823 | long leg | $82K | $94K | 25x | |
| 01 Exchange kPEPEUSD | +0.1168% | 1h | 0.000004831 | +0.166% | $553 | $2K | 10x | as long as short |
HTX PEPE-USDT
Bitget PEPEUSDT
Reya kPEPERUSDPERP
OKX PEPE-USDT-SWAP
GMX PEPE/USD [ETH-USDC]
BloFin PEPE-USDT
Orderly PERP_1000PEPE_USDC
Phemex u1000PEPEUSDT
Paradex kPEPE-USD-PERP
Injective PEPE/USDC PERP
Lighter 1000PEPE
Nado kPEPE-PERP
ApeX Omni 1000PEPEUSDT
SoDEX 1000PEPE-USD
Kraken Futures PF_PEPEUSD
Backpack kPEPE_USDC_PERP
BingX 1000PEPE-USDT
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
MEXC PEPE_USDT
Binance 1000PEPEUSDT
Aster 1000PEPEUSDT
01 Exchange kPEPEUSD